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Traditional IRA contribution limits?
Posted on 2/13/10 at 10:43 am
Posted on 2/13/10 at 10:43 am
Are there contribution limits for traditional IRAs? My previous understanding was that Roth IRAs had a max contribution of $5k but traditional IRAs had a much higher limit - but recently after doing some research I read something that made it sound like you can only contribute an annual max of $5k to either. Is this true?
3
Posted on 2/13/10 at 11:43 am to Pheeze
True
Posted on 2/13/10 at 11:52 am to Pheeze
It is true. Of course, one is pre-tax and one is post-tax.
Posted on 2/14/10 at 9:59 am to Pheeze
Are you self-employed? If so, there are alternative forms of IRAs with higher contribution limits.
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